Open economy measures of wealth and Hicksian national income

Makin T. (1994) Open economy measures of wealth and Hicksian national income. Open Economies Review, 5 4: 361-369. doi:10.1007/BF01000720


Author Makin T.
Title Open economy measures of wealth and Hicksian national income
Journal name Open Economies Review   Check publisher's open access policy
ISSN 0923-7992
Publication date 1994
Sub-type Article (original research)
DOI 10.1007/BF01000720
Volume 5
Issue 4
Start page 361
End page 369
Total pages 9
Publisher Kluwer Academic Publishers
Subject 2002 Cultural Studies
Abstract This paper argues that a total approach to macroeconomic stock estimation is necessary when assessing the overall significance of a nation's foreign debt level. In an increasingly integrated global economy, changes in national wealth-the difference between the value of internationally tradable assets and external liabilities-not only help gauge creditworthiness, but may be used to complement the traditional flow measures of gross national product and national income. Moreover, following Hicks (1946), changes in open economy measures of wealth yield a new measure of national income. Prototypical estimates of wealth and Hicksian income are presented for Australia by way of example.
Keyword Australian example
Foreign debt
Hicksian income
national assets
national wealth
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Unknown

Document type: Journal Article
Sub-type: Article (original research)
Collection: Scopus Import
 
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